Daily Market Review: BTC, ETH, IMX, XRM, GNO
In today’s session, the cryptocurrency market experienced a bearish sentiment, with only a few tokens seeing price increases over the past 24 hours. The global market cap has also decreased by 0.44% to reach $1.8 trillion.
Bitcoin (BTC) Price Review
Bitcoin’s price has been trading above the 20-period Simple Moving Average (SMA) on the 2-hour chart, indicating a sustained bullish trend. The Bollinger Bands suggest some market volatility, while the Relative Strength Index (RSI) hovers around 60, slightly below the overbought territory, indicating a potential continuation of the upward momentum. The Average Directional Index (ADX) confirms the strength of the current trend. As of press time, the Bitcoin price stands at $48.2K, experiencing a 0.07% drop within the last 24 hours.
Ethereum (ETH) Price Review
Ethereum has been following a steady uptrend within an ascending channel, supported by the Auto Pitchfork indicator, pointing to a bullish trend. While the Awesome Oscillator (AO) signals some bearish momentum below the zero line, the Chaikin Money Flow (CMF) suggests a balance between buying and selling pressures. The Ethereum price stands at $2,500 as of press time, reflecting a 1.3% drop within the last 24 hours. ETH’s market cap is at $300 billion.
ImmutableX (IMX) Price Review
ImmutableX has shown an uptrend, with prices above the alligator indicator, indicating a bullish market. The Woodie’s Commodity Channel Index (CCI) oscillates on both sides of the zero line, suggesting some indecisiveness in market sentiment. However, the overall outlook remains positive for the ImmutableX price. As of press time, IMX stands at $2.99, experiencing a 10.2% jump within the last 24 hours. IMX’s market cap is at $4 billion.
Monero (XRM) Price Review
Monero’s chart reflects a consolidation phase, with the price oscillating around the Moving Average Convergence Divergence (MACD) signal line, indicating a lack of strong momentum in either direction. The Volume Oscillator suggests lower trading volumes during this period, which often corresponds to a lack of conviction among traders. As of press time, the Monero price stands at $122.7, experiencing a 3% jump within the last 24 hours. XRM’s market cap is at $78 million.
Gnosis (GNO) Price Review
Gnosis has exhibited relatively stable price movement, trading above the Supertrend indicator, indicating a bullish market condition. The Historical Volatility (HV) indicator reflects reduced fluctuations and a more stable price movement during the observed period. As of press time, the Gnosis price stands at $254, experiencing a 2.6% jump within the last 24 hours. GNO’s market cap is at $659 million.